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Regional school finance panel: FY25 closeout shows unexpected one-time revenue; committee urged to replenish reserves
Summary
Business manager Nancy Haines told the finance subcommittee the district will likely end FY25 with just under $3 million available from a $65 million budget after unexpected returns and revenue; she and members urged rebuilding the excess and deficiency (E&D) reserve and treating new funds as largely one-time.
The finance subcommittee of the regional school committee heard an end-of-year budget update Tuesday that shows the district likely will end fiscal 2025 with just under $3 million available from an original $65 million operating budget, and roughly $1 million of unexpected one-time revenue.
That outlook came as Nancy Haines, the district business manager, reported returning funds and higher-than-anticipated reimbursements that together put the district “roughly 1,000,000 in revenue over anticipated.” Haines said the district received “just over $1,000,000 from Minute Man to Show,” and that $536,000 of the receipts will go to the general fund. She also reported a return of “just under 250,000” from the Valley Collaborative.
The money prompted discussion about the district’s excess and deficiency fund balance, commonly called E&D. Haines told members the district used some E&D to balance the FY26 budget and urged replenishment. “We…
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